Horizon Global Corp (NYSE:HZN) rose 6.8% during mid-day trading on Thursday . The company traded as high as $9.48 and last traded at $8.51. Approximately 307,552 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 598,682 shares. The stock had previously closed at $9.13.

HZN has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Horizon Global from a “sell” rating to a “hold” rating in a report on Monday, December 18th. Roth Capital set a $24.00 price target on shares of Horizon Global and gave the stock a “buy” rating in a report on Saturday, December 16th. Barrington Research reissued an “outperform” rating and issued a $23.00 price target on shares of Horizon Global in a report on Tuesday, December 19th. BMO Capital Markets reissued a “buy” rating and issued a $20.00 price target on shares of Horizon Global in a report on Friday, October 13th. Finally, ValuEngine raised shares of Horizon Global from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $17.67.

The company has a market capitalization of $198.26, a P/E ratio of -20.48, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78. The company has a current ratio of 1.62, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC purchased a new position in shares of Horizon Global during the second quarter worth approximately $159,000. Cubist Systematic Strategies LLC purchased a new position in shares of Horizon Global during the second quarter worth approximately $186,000. Suntrust Banks Inc. raised its stake in shares of Horizon Global by 8.4% during the second quarter. Suntrust Banks Inc. now owns 13,206 shares of the company’s stock worth $188,000 after acquiring an additional 1,025 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Horizon Global during the third quarter worth approximately $199,000. Finally, Citadel Advisors LLC purchased a new position in shares of Horizon Global during the second quarter worth approximately $222,000. 92.27% of the stock is currently owned by institutional investors and hedge funds.

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About Horizon Global

Horizon Global Corporation is a designer, manufacturer and distributor of a range of custom-engineered towing, trailering, cargo management and other products serving the automotive aftermarket, retail and original equipment (OE) channels. The Company operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.

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